He highlighted the transformative potential of technology, stating that harnessing its power could lead to significant progress in areas such as education, healthcare, agriculture and governance, and emphasized the need for Ghana to embrace digitization and invest in building a strong technological infrastructure to propel the nation forward into the global digital age.
John Dramani Mahama has unveiled plans to create a $50 million fund aimed at boosting Ghana’s growing financial technology (fintech) industry if he takes over as president in 2025.
“I believe in leveraging technology to address Ghana’s development challenges, which explains my commitment to creating Innovation Hubs in partnership with the public and private sectors.”
“But that’s not all! I also have great news for our Fintech industry. We will be establishing a $50 million Transformational Growth Fund to support Ghana-owned Fintech companies in addressing their financial needs. This fund will help fintech innovators to become technology entrepreneurs. attract investment and create jobs.”
“I am excited about the future of Ghana and its potential for innovation and growth. Together, we can create a thriving ecosystem for technology and entrepreneurship.”
With a growing landscape of over 70 fintech businesses in the country, a significant proportion of which are start-ups, Mahama highlights the central role of strategic positioning of the fintech sector in driving economic progress.
Participating in a dialogue with Ghana’s fintech community in Accra, Mahama stressed the need to adopt a well-planned strategy to boost the industry’s expansion.
In line with his vision for the sector, Mahama also revealed intentions to launch a women’s bank to address prevailing gender disparities in the financial sector.
He emphasized the need for inclusive policies and initiatives that enable individuals and businesses to harness technology for socio-economic development and prosperity.
Mahama also emphasized the importance of digital literacy and skills development, stating that investing in technology-focused education and training programs will equip Ghana’s workforce with the knowledge and expertise they need to thrive in the digital economy.
In addition, Mahama called for strategic partnerships between government, the private sector, academia and civil society to promote innovation and technological advancement in Ghana. He emphasized the importance of cooperation and collaboration to promote an environment conducive to innovation, entrepreneurship and sustainable development.